“If we were to draw a line in the sand at January 2018, I believe that the property market of Cairns will perform better than most locations in Australia over the next three years, including better than the state’s capital city,” says Simon Pressley, head of property market researc...

TURNING your home into an income earner for the family has become increasingly popular as interest rates hit record lows. Here are five strategies to make the most of the equity you’ve built up.Property investment group BInvested.com.au head Nathan Birch, who built up major property portfolio ...

First home buyers are the most susceptible to being confused about the buying process.According to research done buy realestate.com.au. Around 15% of those surveyed were “extremely confused” by the process, while 49% were “somewhat confused”.So some stuff you may want to know...

Are You Highly Geared For A Busy Position?We are seeking a person to join our growing teamAre up capable of working with a fast paced team whilst having your mind completely focused on the job?Do you have an awesome disposition, can you multi-task and think outside the square?You must have a current...

AUSTRALIA’S finance industry watchdog has a timely warning for customers to check mortgage statements after more than 1,000 customers were overcharged in a single bank.

The Australian Securities and Investments Commission (ASIC), which is the country’s corporate, markets and financial services regulator, said a single customer complaint has uncovered a broader systemic issue at the bank in question.That saw Tasmanian bank MyState refund more than $230,000 in ...

TREASURER Curtis Pitt has announced $176 million in the State Budget for the “catalytic” expansion and upgrade of the Cairns Convention Centre.Only $1 million will be spent in 2017-18 to develop a business case, but the State Government says it is setting aside $176 million to com...

Cairns couple shares love of Queenslanders with social media following

June 14, 2017

CAIRNS couple Andrew Cox and Katie Fulton have used social media to share their renovation journey with like-minded Queenslander enthusiasts.In late 2015, they bought an attractive three-bedroom home at 17 Denbeigh St, Parramatta Park, with the intention of throwing themselves headfirst into a new D...

Cairns ‘castle’ on the market after 10 years as family-friendly wonderland

June 14, 2017

Written By Hayden Smith - Cairns Post.WITH its European architecture and fruit tree-lined gardens, this “castle-like” Smithfield manor resembles something from a fairytale.And for the first time in a decade, the unique home at 2 Mangosteen Cl is on the market, listed for offers above $68...

With so many Australians seeking to invest part of their hard-earned superannuation into property, it is apparent that there is significant earning potential to be found in real estate for savvy investors.

Lighten up to sell your home
Good lighting can be a definite bonus when selling your home, but few homes have floor-to-ceiling windows in every room to bring in the sunshine. Here are some tips and tricks for optimising the light you do have available:
- Create ambient lighting for each room. Wo...

The ASX Futures Market has had a fairly dramatic change of heart when it comes to the RBA cash rate over the last fortnight. The chart below shows there is a strong chance the RBA cash rate will “FALL” by 0.25% in September.
There is even a 50/50 chance that rates may fall by a further 0.25% in Apr...

The low rental situation is having an effect on the current climate in the housing market of Cairns.

Supply is low for rental properties to satisfy demand for the residential influx of new arrivals and others in Cairns.
This is having a positive effect on the sales side of the market and is pushing the market along as we are seeing more sales happening.
With a low rate of new unit and residential ...

Stamp Duty is a Government tax, based on the sale price of a property. Stamp Duty is a major source of revenue for State Governments in Australia.

On 10 April 2012, Queensland’s recently elected Premier Campbell Newman announced that Cabinet approved the reinstatement of the Owner Occupier home Stamp Duty concession from the first of July 2012.
Transfer duty (Stamp Duty) is a Government tax, based on the sale price of a property. Stamp Duty ...

THE owners of the first international hotel in Cairns have shaken off the tourism blues and will today reveal a $10 million upgrade to its conference centre.

The upgraded centre and events facility occupies the entire third floor of the Pacific International Hotel on the Esplanade.
Executive director Paul Kamsler jr said the refurbishment, started in 2008 and done in five stages, was a significant commitment by the family owned hotel.
"For us the global ...

Seven hundred people are attending the awards at the Cairns Convention Centre, with three Far Northern builders in the finals.

HIA communications national director Greg Weller said yesterday the awards would generate $1.2 million in accommodation, food and beverages, meeting venue hire and other expenses. He said the awards were held at various parts of Australia each year.
"Cairns has been chosen this year because it is a ...

Prepare to taste, watch, dance and play in the tropical seaside village of Port Douglas.

A smorgasbord of tropical delights awaits in Port Douglas this weekend, as the resort town prepares to host the 2012 instalment of its biggest party of the year.
Port Douglas Carnivale 2012 is one of the Far North’s biggest and best-attended festival events, featuring a huge selection of live musi...

Following on from May 1 RBA decision to cut the cash rate by 0.5 percentage points, Westpac has cut its headline three year-fixed mortgage by 20 basis points to 6.19%.

HSBC has cut its three year fixed-rate product to 6.09% or 5.99% for those investors who take up the interest-in-advance offering
ME Bank has also cut its three-year fixed rate mortgage product to 5.99%.
Currently the cheapest three-year fixed rate offering appears to be the 5.89% rate offered by ...

Delightful Cotchford Farm enjoys a fascinating provenance with both literary and musical connections.

In 1925, the house was bought by the renowned author, dramatist and poet A.A Milne as a country retreat for himself, his wife and son, Christopher Robin. It was here, amidst the beautiful Sussex countryside and surrounding woodland where the wonderful stories of Christopher Robin and Winnie-the-Poo...

Well, it has been a while since my last “Watchin Cairns” has gone out, I have been extremely busy and have had two of my better months in a while, already 5 properties under contract this month.

During the week I (and just about every agent in Cairns) went along to a presentation by John McGrath, he is the leading real estate expert in Australia, and one I always try and see. John McGrath said; "You’ll never know that the market has turned until after it’s turned," Mr McGrath said. "In my o...

Whilst the Cairns property market remains soft, the median house price has now
stabilised.

In February 2012, the Cairns median house price trend came in at $343,000, which is
down only 0.6% on the $345,000 median house price recorded in July 2011.
Meanwhile the median established unit price trend came in at $174,000, a reduction of
7.3% since July 2011.
N.B. The median property price ...

Vendors no longer have to offer as deep discounts as last year to secure sales of their properties, new data released by Australian Property Monitors reveals.

The amount of discounting required peaked in winter and/or spring in mid- to late 2011, according to APM, with the most discounting required between June and November last year in all capitals.
In Sydney, Brisbane, Perth, Darwin and Hobart discounting has reached its lowest level in a year in early...

THE number of scheduled domestic flights and seat capacity to and from Cairns airport are at record highs. Are you jetting off anywhere this weekend?

There are now 38,384 seats available each week on 235 flights operated by Qantas, Jetstar, Virgin Australia and Tiger Airways, according to Tourism Queensland figures for May.
Cairns Airport chief executive Kevin Brown said capacity was up 3 per cent on May 2011, or nearly 1200 passengers a week.
"D...

Demand for rental properties has risen in Cairns with reduced vacancy rates across the region and Queensland and median house sale prices have fallen in the same period, according to two separate reports.

The Real Estate Institute of Queensland (REIQ) released the March residential vacancy rates on April 30 that showed Cairns rental vacancies have dropped by 1.3 per cent since this time last year.
REIQ Cairns chairman Greg Clyde-Smith described the property market as “reasonably healthy”.
“Cairns has...

Following a raft of economic data that has come out recently I felt it was important to reflect on this data. It is obvious that the Reserve Bank is currently in a very tough predicament.

While much of the data is proving to be quite negative and providing a clear case for interest rate cuts, every now and then other pieces of data highlight that perhaps things aren’t so bad. Most notable of these data releases was the labour force data. Despite most economists expecting an increase...

PAPUA New Guinea residents are the largest foreign investors in the Far North, according to the latest figures from the Registrar of Titles.

They bought commercial, residential and other property worth $4.5 million out of $16 million of foreign purchases in the last financial year.
Next on the list was the UK ($3.5 million), NZ ($2 million) and Japan ($1.9 million).
Other notable buyers were from the Czech Republic ($680,000), Greece ($5...

CONFIDENCE in the future of Cairns has led to Hoppen's Carpets building new $1.5 million premises at Manunda.

Work has started on the Anderson St site by Keir Constructions and is expected to take six months.
Director Wayne Hoppen said it was time for the 38-year-old business to have its own premises after leasing properties in Sheridan St, Spence St and McLeod St since 1974.
"We believe in the future of Ca...

NEW housing approvals have nearly doubled in the Far North, surprising industry leaders. Has the tide finally turned? Is this the year Far North Queensland's economy finally gets back on track?

In the latest figures released by the Australian Bureau of Statistics, new housing approvals for the region jumped from 57 in January to 102 in February, a 79 per cent increase.
Master Builders Cairns regional manager Ron Bannah said he was delighted and pleased by the rise.
"This news is quite plea...

ONE of the city's landmark pubs has been placed in receivership but will continue trading in a bid for survival.

What can be done to save the Courthouse?
Glen Miller of BRI Ferrier was appointed receiver for the Courthouse Hotel on Monday.
He said the historic venue, on Abbott St, would remain open in an attempt to trade it out of a yet-to-be-determined debt.
"Our intention is to trade as normal and offer the ...

THE region's biggest sporting club is defying a bleak economy to launch a $6.5 million expansion that will generate up to 80 local jobs.
After being named Queensland’s Best Club 2012 last week, Cazalys has announced it will extend its premises by more than 1800sq m.

The club will take over the existing Beaurepaires site, with the work expected to generate up to 70 jobs.
Cazalys general manager Jason Salecich said the club would hire up to 10 more staff to cope with the expansion.
He said the city's economic climate was precarious but he was confident the invest...

Will The RBA give us a rate cut….??? The expectations are that next week the Reserve Bank could award us with an ¼% interest rate cut. We all know that we need this to help the market to pick up..

Most of the pundits are saying that the RBA will start cutting rates from the middle of the year. Retail sales growth had softened since mid 2011, and the rising growth in employment.
Now with the prospect of a slowing Chinese economy, the rest of Australia will feel the slow down, the time is right...

MUD mania took hold of hundreds of Redlynch State College students yesterday in one of their largest fundraiser events of the year.
A change of clothes was a must for about 870 students, from prep to Grade 6, who joined the annual obstathon yesterday.
The children climbed, dodged and slid across a number of challenges, with every lap helping to raise money for the school.

An expected $12,000 was raised and will support campus projects, including playground upgrades.
Deputy Principal Sam Molloy said the annual event had been held for the past 15 years and always made for some mud-splattered fun.
"The kids love it, they get so excited – you have to drag some of them of...

GAVIN King, David Kempton and Michael Trout will unite as a force for the Far North when they take their seats in State Parliament, insisting the region's voice will not be drowned out in the huge Campbell Newman-led LNP government.

The newly elected LNP members in Cairns, Cook and Barron River will make the region’s languishing economy among their top priorities after clinching clear victories in the long-held Labor seats.
Cairns.com.au: Live coverage of the State Election, from the moment the polls opened until the last resul...

Property managers should start charging clients more, a leading property manager has said.

At the recent Real Estate Institute of Queensland (REIQ) North Queensland Convention, held in Townsville, Malcom Riley, of MR Presentations, told principals and agents it was time to start charging more for all the services they offer, no matter how small.
“We are doing too much for free,” he told ...

The Housing Industry Association (HIA) is calling on the Reserve Bank to cut the official cash rate yet again in a bid to curb the decline in residential construction activity.

“The residential building industry is a key barometer of Australia’s economic health, but regrettably there is unequivocal evidence of a further deterioration in conditions following a very weak 2011," HIA managing director Shane Goodwin said.
"Business closures and job losses are mounting and thou...

THERE was a gaggle of geese living in an apartment. A vindictive owner who regularly ran all the taps in his unit to deliberately push up the water bill for the rest of the block. And a horse that was kept in a Glebe townhouse.

The number of complaints about strata schemes has been steadily increasing over the past decade, rising from 945 requests for strata mediation lodged with NSW Fair Trading in 2003 to 1405 in 2009 and 1474 last year.

SCA has taken the lead in finding a solution to the crisis in strata insurance in cyclone-prone areas of northern Queensland and Western Australia. There has been a Federal Government review and parliamentary inquiry.
Natural Disaster Insurance Review
In November 2011 the Federal Government released the report of the Natural Disaster Insurance Review. The Review, originally set up after the Brisbane floods to look at the lack of flood coverage, endorsed SCA's position that assistance to households in high risk areas should also be available to body corporates.

Also in line with SCA's submission, it recommended the creation of a government reinsurance facility to help insurers provide affordable flood cover. More importantly, it also accepted SCA's arguments that the same issues of insurance market failure were causing a crisis in affordability and coverag...

The share of homes with mortgages worth more than the property's value increased at the end of last year as the housing market stalled and prices turned lower. New home buyers saw the biggest jump in so-called negative equity.

Property information group RP Data said that 6.4 per cent of homes were valued at less than their purchase price in the December 2011 quarter, rising from 4.9 per cent of the market in the September quarter.

We know it's happening in Cairns and the figures in the capital cities are doing it too, this means the prices will start to slowly get better.

Residential vacancy rates in most capital cities slipped for the second month in a row in February, with Hobart the only capital recording an increase in available rental properties of 0.2 per cent.
New data from SQM Research shows the national average fell to 1.7 per cent in February, down from 1....

Inflation not a threat and another interest rate cut needed: CommSec’s Craig James

March 15, 2012

On the back of yesterday’s news that consumer confidence has fallen to levels last seen before the November and December rate cuts CommSec chief economist Craig James says Australians “risk talking ourselves into a growth recession”.

“[This is] a period of sub-trend economic growth, which feels in many respects like a recession but doesn’t involve the economy actually going backwards,” says James.
The March Westpac–Melbourne Institute Index of Consumer Sentiment showed a slight increase in housing sentiment but an overall five-...

An alleged 'death-knock' type incident in Queensland, where an agent was caught taking photos of a lady's house the day after the death of her husband, has drawn a strong rebuke from the Real Estate Institute of Queensland (REIQ).

The alleged incident, which was reported on ABC Radio Brisbane, involved the claim that the information about the death came from within the hospital where the man passed away.
ABC Radio Brisbane breakfast host Spencer Howson said the lady in question – Gail Thomsom – sent him a letter about the in...

Up until the 10th of this month, our office had put under contract 16 properties, there is a buzz in the air that the property market is looking a little more positive in Cairns.

Although last weekend we also had a lot of rain during the open for inspection times and the numbers were very low. That’s the good thing about real estate it conditions can change in an instant. Some people don’t believe me when I say that it seems to change nearly day to day. We all noticed that t...

THE Far North's peak economic body is making it clear to state election candidates what needs to be done to help bring resilience to the region's troubled economy.
Advance Cairns has handed over a five-point wish list to local candidates, identifying increased air services, trade with Papua New Guinea, public sector jobs, the defence force and the marine industry as top economic priorities

The organisation says hundreds of millions of dollars and countless jobs would continue to be lost in the Far North unless action was taken by the next state government to seize emerging opportunities.
Chief executive Stewart Christie said both major parties had made some promising announcements on ...

Often you hear about real estate agents that don’t return phone calls. This is not directed at anyone in particular, but more often than not buyers are the ones that don’t return phone calls.

This is a problem that upon talking to other agents in and out of our office, seems to be becoming more common place. Take for example setting up a private inspection on a property, you ring the owners and see if the time that the buyer has picked is suitable for them, they agree, then you ring or t...

The RBA has starkly highlighted a dramatic drop in property sales turnover as a key occurrence when it comes to recent economic structural change.

“In the early 2000s, when the property boom was in full swing and investors were busy buying properties to rent out, around one in 12 dwellings in Australia was changing hands each year,” RBA deputy governor Philip Lowe said.
“Today, the rate of turnover is only about half of this, with around one ...

MORE than 12,000 delegates attending 22 conferences at the Cairns Convention Centre will inject $65 million into the region's economy this year.

Centre general manager Ross Steele said after the completion of a $6.3 million refurbishment at the end of next month, there would be 22 conferences, including 13 international, during the next six months.
He said one of the larger conferences would be the International Coral Reef Symposium in July ...

A NEW $85 million shopping centre, including a full size Woolworths supermarket, is to be built in the heart of Cairns.
The 17,000 sq m Central Park Market will be built in Spence St, opposite Cairns Central shopping centre, on vacant land behind the city’s police station and courthouse.

A consortium of three leading property developers – the HS Vision Group, the Gasparin Group and MV Design – expect to start construction of the centre early next year.
HS Vision director and chief executive officer Rose-Marie Dash said a national construction company based in Cairns would be chosen ...

We’re in a state of flux with ongoing uncertainty over the European debt crisis, job losses here at home and the banks signalling that the days of routinely following the Reserve Bank’s moves on interest rates may be over.

We are seeing buying enquiry up significantly. The under $1M market is still the strongest segment but there’s new interest up to $2M and even beyond in Sydney and Melbourne where higher end buyers weren’t around as much in 2011. While it’s too early to tell whether this new enquiry will translate ...

FROM Shane's Watchin' Cairns Enewsletter. Fill the form out to subscribe to Watchin' Cairns.
I have noticed over the years that the lead up to an election some how puts a majority of the buyers off. For what reason I am not sure,

the charge of government doesn’t really affect buyers or sellers of residential property, unless they make some announcement about changing stamp duties on the day they get elected, one has said “we vow to reinstate the principal place of residence concessional rate for stamp duty”. Although when an...

As the housing market has transitioned out of a growth cycle and hit rock bottom in many regions, vendors have found it increasingly difficult to sell their properties.
Subsequently, the average time on the market has risen in many areas, the RP Data report stated.

The report looked at council areas across the capital cities and regional markets that have recorded the largest increase in their average time on the market over the 12
months to October 2011. Across the capital city markets, the premium housing suburb of Mosman Park on the shores of the Swan Rive...

The RBA has revealed that stabilising house prices were a factor in its surprise decision to keep the official cash interest rate on hold this month.

Recently released minutes from the monetary policy meeting of the Reserve Bank Board reveal a generally upbeat assessment of the challenges facing the Australian economy, including the observation that housing prices showed some stabilisation around the end of 2011, “after having declined for most o...

CAIRNS is being showcased as a one-stop shop for the multi-billion dollar fly-in/fly-out mining workforce sector.
Central to this is Cairns becoming the home of a federally-funded FIFO centre of excellence.
The proposal was outlined by Advance Cairns in a submission to yesterday’s hearing of the House of Representatives Standing Committee on Regional Australia into the use of FIFO and drive-in/drive-out workforce
practices.

Advance Cairns chief executive officer Stewart Christie told the hearing that Cairns, which was the first city to employ a FIFO co-ordinator, was ideally placed to "co-ordinate, measure, assess and share the experiences gained in this region with other areas across Australia, who are just beginning ...

The infamous Snowtown bank has been listed for sale.
Convicted murderers John Justin Bunting and Robert Joe Wagner used the former bank's vault to store their victims’ bodies in barrels in 1999.
The bank has more recently been used to shoot scenes for the film Snowtown.

The infamous Snowtown bank has been listed for sale.
Hale Real Estate director Nigel Christie says the Snowtown property has a $200,000 price guide. It’s located about 150 kilometres north of Adelaide.
Convicted murderers John Justin Bunting and Robert Joe Wagner used the former bank's vault to st...

One of my opens I got over 49 groups through it. The strange thing is not one offer, although a couple of people are thinking about putting an offer in, they haven’t move forward yet.

I also received an award at a recent Cairns Property Office awards function for the “best lister for 2011”. This means I listed more properties onto the market than anyone else in the office.
Also we have started a rental department at our Redlynch Office, This is being run by Samantha and Debra, a...

FAR Northern building approvals continue to rise but industry leaders say there is still a long road to
recovery.
Residential approvals rose 45 per cent to 77 in December 2011, up from 54 for the same period in 2010, according to the Australian Bureau of Statistics.

The total number of houses approved in December in the Far North included 14 on the Cassowary Coast, 15 on the Tableland, 11 at Weipa, three at Port Douglas and 26 in Cairns.
Resource boom towns continued to lead the way in Queensland for building approvals with Mackay recording 128 and 127 for the ...

This award is for the agent that puts the most properties on the market.
Recently Cairns Property Office achieved the Number position in the Redlynch area on Realestate.com.au for both SALES and LISTED PROPERTIES.....

PLANS to fix the "dog's breakfast" of residential real estate contracts could mean more information for buyers.
The State Government has announced plans to simplify the selling and buying process by reducing the number of forms homeowners need, from as many as six, to one contract.

Current requirements in a house contract may include a sustainability declaration, a pool safety declaration, a warning statement, an information sheet, disclosure statement and, of course, the contract of sale.
The Government is looking at ditching the sustainability declaration and including floo...

Queensland and Western Australian estate agent numbers have slumped as a consequence of a nationwide drop in transaction volumes and property prices.

Last year’s volumes were about 13% lower than volumes in 2010 across Australia, according to RP Data head of research Tim Lawless.
The figure was 26% lower than 2009 and 33% lower than the recent highs of 2007.
“The real estate industry is doing it tough,” Lawless concludes.
David Airey, presiden...

APPEALS against the $15 million expansion of the Redlynch Central shopping centre will delay its construction by up to two years and put 350 jobs on hold.

The owners of the Cairns Central and Smithfield shopping centres have lodged appeals in the Planning and Environmental Court against the Cairns Regional Council’s approval of the centre’s extension.
The delay has frustrated the Marino family who were hoping to start construction later this year.
"Th...

Remember before the great GFC, we have a lot of little “banks” willing to fight for your business, they have since closed or have been purchased by one of the big four banks, did the ACCC look the other way?

The big four banks have got it all over us…… They are too big to fail and there is too little of them to be competitive to us customers.
Remember before the great GFC, we have a lot of little “banks” willing to fight for your business, they have since closed or have been purchased by one of the big ...

The private equity firm and Leighton Holdings’s 100 per cent owned Leighton Properties -- through a joint venture -- acquired a 3752 square metre site from the Brisbane Housing Company for its Mosaic project.
The $150 million Mosaic precinct, in Brisbane’s Fortitutde Valley, will feature an 18-stor...

Before the global financial crisis, Australia had a diverse and highly competitive financial system. The four major banks went head-to-head with the likes of St George, Bankwest, Bendigo Bank, Aussie, Adelaide Bank, RAMS, Wizard and Challenger.

Today every single one of these entities has disappeared as a genuinely independent concern, wholly or partly acquired by the majors (with competition concerns waived by the ACCC), or merged with one another.
Before the crisis, Australia's banks were not explicitly government-backed. And taxpayers ...

Experts are hopeful that interest cuts will restore faith to a cautious market in 2012.

This weekend marks the start of Sydney's auction season, and the new property year has brought with it a wave of cautious optimism from both buyers and sellers.
About 80 auctions are scheduled across the city, compared with 118 for the equivalent weekend last year. The drop in early auction listing...

Apartments and multi-storey homes are about to get a little safer for children thanks to a rule change around windows in new buildings.

The Australian Building Codes Board has ruled that all windows in new homes and apartments that are more than two metres off the ground must be either fitted with window locks that stop the window being opened more than 125mm (12.5 cm), or must have reinforced screens to prevent children from fallin...

Well, glad to say that the numbers are up, I have been talking to a couple of agents in our office and not in our office as well and they are saying the same thing…….. the volume has increased.

What does that statement mean? Well the numbers of buyers has increased, but not the prices. The volume of properties being sold is increasing; this is a “coal face” statement, from talking to other agents, valuers and also building and pest inspectors. They are both saying that they are getting bus...

Australia's house prices fell in every quarter last year but they may have hit bottom, new figures show.

Australia's house prices fell in every quarter last year but they may have hit bottom, new figures show.
Housing data released by RP Data-Rismark today shows that the rate of decline in house prices across the nation slowed towards the end of last year.
"The December quarter was the year's smalles...

Insurers have defended price rises for residential strata title insurance in north Queensland at a federal parliamentary inquiry.

Insurers have defended price rises for residential strata title insurance in north Queensland at a federal parliamentary inquiry.
A House of Representatives Committee began hearing evidence in Cairns yesterday and will head to Townsville tomorrow.
It is due to report in April on what has led to si...

THE housing industry continues to gain confidence with a spike in building approvals as the Far North recorded the second highest approval increase in the state.

THE housing industry continues to gain confidence with a spike in building approvals as the Far North recorded the second highest approval increase in the state.
The number of building approvals, which includes Cardwell, the Tableland, Cairns and the Torres Strait, rose 30 per cent to 73 in November...

Australian property commentators have lined up to slam predictions made by a US real estate analyst that property prices here are set to dive by as much as 60%.

Australian property commentators have lined up to slam predictions made by a US real estate analyst that property prices here are set to dive by as much as 60%.
Jordan Wirsz, who has been promoting a webinar on Australian property, has predicted that rising interest rates, peaking commodity prices ...

The Reserve Bank is likely to cut interest rates a further three times this year, Yellow Brick Road executive chairman Mark Bouris has forecast.

The Reserve Bank is likely to cut interest rates a further three times this year, Yellow Brick Road executive chairman Mark Bouris has forecast.
Three rate cuts of 25 basis points each would take the cash rate to 3.5%, with the RBA’s monetary policy committee next scheduled to meet on February 7.

Although This story cover Sydney we are seeing the same in Cairns I have written three contracts so far this month, there are buyers around, I have spoken to other agents in Cairns and we feel that there is good volumes but the prices are not going up. It is better than this time last year that's for sure.
HOME buyers in Sydney's east and inner west are out in force, with agents reporting a surprising number of early sales.
Traditionally January is a quiet month for sales, but some believe the two interest rate cuts in November and December could be encouraging buyers.

Along with many of last year's unsold properties finding buyers, there have been cases of freshly listed homes selling within a week. ''We have rarely seen so many truly qualified and cashed-up buyers,'' said Di Jones director Gary Sands.
His agency has recorded six sales this year already, with se...

The volume of housing finance commitments to owner occupiers increased for the eighth consecutive month in November, up 1.4% over the month and 4.6% over the year.

Of course, from a housing market perspective it is important to separate owner occupier commitments for refinances and non-refinances. Refinances create business for banks and mortgage brokers whereas for real estate agents and those in the construction industry non-refinance commitments are most i...

There is little chance of a housing market crash this year, says HSBC chief economist Paul Bloxham as part of his macro-economic outlook for 2012.

Bloxham says there are three main reasons why prices won’t plummet: the majority of households can service their debt; the undersupply of housing is growing at a greater rate than the decline in population growth; and there is strong demand for housing close to major urban areas.

THE International Monetary Fund has slashed its economic forecasts for Australia, warning of a new global recession that would hit commodity prices and drive millions worldwide into unemployment.

Hours before the fund published its unexpectedly gloomy update in Washington, the Reserve Bank of Australia released a statement expressing concern about the global outlook and opening the way for interest rate cuts should things deteriorate.

The problem comes about when Local Governments in particular lose control of their costs. It plays out in three steps

The commercial / industrial sector is the first to be “hit”, as it is more politically feasible for Local Authorities to overcharge this sector. It is not uncommon now for around a quarter of Local Authorities actual costs being attributable to the commercial / industrial sector, but the rates take ...

A BOUTIQUE accommodation house at North Cairns is undergoing a $3 million expansion and refurbishment.
The new-look Cairns Queenslander Apartments and Restaurant in Digger St are due to open in mid May.

Company director Mike Spaulding said it was a vote of confidence in the tourism industry and the region.
"I’m putting my money where my mouth is," he said.
"There aren’t many accommodation properties or tourism businesses in the Cairns city area taking the initiative to redevelop in our current ec...

TENANTS should be allowed to attend owners' corporation meetings to give renters a much greater say in how their strata buildings are managed and maintained, tenants' groups and strata experts have said.

There should also be changes to the legislation to stop the misuse of bylaws, such as banning pets from buildings, as part of the state government's review of the strata laws, a leading strata law expert, Cathy Sherry, said.

Brisbane vet Michael O'Donoghue has seen too many people have to give up, or put down, their pets because they could not find a rental property that welcomed animals.

Brisbane vet Michael O'Donoghue has seen too many people have to give up, or put down, their pets because they could not find a rental property that welcomed animals.
"It's very heart-breaking, people euthanising their beloved pet because they can't find accommodation," he said.
The People and Pet...

An escaped goat that was destined for the Christmas dinner plate has been caught after spending two weeks on the run trotting across 20km of rainforest from Kuranda to Redlynch. Cairns Regional Council workers spent two hours trying to corner the gruff goat at a Redlynch property yesterday where it ...

The House of Representatives Standing Committee on Social Policy and Legal Affairs.

The House of Representatives Standing Committee on Social Policy and Legal Affairs will be holding the following public hearings relating to its inquiry into the affordability of residential strata title insurance.
Monday 30 January 2012, 9am-12pm, Port Douglas Community Hall, Mowbray Street, Port ...

While Europe and Washington fiddle around fires of varying intensity, foreign central banks buying increasing amounts of commonwealth government bonds are sending a message: Australia is a safe haven.

The Reserve Bank board minutes fingered foreign central bank buying as a key factor in plunging commonwealth bond yields, but that was only part of a message of cautious confidence the RBA is seeking to impart.

The slow economic recovery of Cairns continues with tourist numbers maintaining their rise and unemployment steadily decreasing while the construction industry remains quiet, according to a new report.

CairnsWatch author Rick Carr said there had been little change in the region’s key economic indicators. “Employment in the Far North is still rebuilding in intensity, albeit not quite as rapidly as suggested in previous months,” he said. The number of people employed in the Far North region was 135,...

MORTGAGE sales soared to $2.7 billion in August, their highest level for 18 months, according to the country's biggest mortgage broker, AFG.

AFG reported that more than 38 per cent of all mortgages sold in August were for refinancing, as property owners took advantage of a highly competitive lending environment, The Australian reports.
Out of the total of 7198 home loans sold in August, 38.2 per cent were in refinancing, 36.5 per cent w...